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First-time House Buying and Catch-up: A Cohort Study

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  • Renata Bottazzi
  • Thomas F. Crossley
  • Matthew Wakefield

Abstract

type="main" xml:id="ecca12157-abs-0001"> We investigate whether different ages of first-time house buying lead to persistent differences in homeownership between cohorts. Our data span nearly 40 years and multiple cycles of England's volatile house prices. Ownership rates at thirty have differed substantially, with a significant negative association with prices. The persistence of differences is assessed using synthetic cohort techniques. Two methods of dealing with measurement error problems both indicate that cohorts with low ownership rates at thirty catch up almost all of the ownership gap by forty. Earlier access to homeownership may result in the ownership of slightly larger homes at around forty.

Suggested Citation

  • Renata Bottazzi & Thomas F. Crossley & Matthew Wakefield, 2015. "First-time House Buying and Catch-up: A Cohort Study," Economica, London School of Economics and Political Science, vol. 82, pages 1021-1047, December.
    • Handle: RePEc:bla:econom:v:82:y:2015:i::p:1021-1047
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    File URL: http://hdl.handle.net/10.1111/ecca.2015.82.issue-s1
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    Cited by:

    1. Lisa Dettling, 2016. "Effects of entering adulthood during a recession," IZA World of Labor, Institute of Labor Economics (IZA), pages 242-242, April.
    2. Jo Blanden & Stephen Machin, 2017. "Home ownership and social mobility," CentrePiece - The magazine for economic performance 508, Centre for Economic Performance, LSE.
    3. He, Zhechun & Simmons, Peter, 2022. "The impact of the minimum housing scale constraint on life-cycle risky asset and housing investment," Journal of Housing Economics, Elsevier, vol. 55(C).

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